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Irving Resources Inc. reports exploration and financing developments for a junior gold exploration business focused on Japan. Company updates center on epithermal gold-silver prospects and joint-venture or farm-in work at the Noto Peninsula on Honshu, the Yamagano project in Kyushu, and the Omu Project in Hokkaido.
Recurring news themes include assay results, soil and stream-sediment geochemistry, diamond drilling, AMT geophysical targets, mineralized veins, and work programs conducted with Newmont Overseas Exploration, Sumitomo, and JX Advanced Metals. Irving also reports capital-structure actions such as non-brokered private placements, common-share units, warrants, material agreements, governance matters, and operating updates tied to resource exploration properties.
Irving Resources Inc. (CSE:IRV)(OTCQX:IRVRF) announces the launch of its 2023 exploration campaign at the Omu high-grade vein project in Hokkaido, Japan, resuming diamond drilling operations. The program includes testing multiple new drill targets and extensions at the Omui site, follow-up drilling at Omu Sinter and Hokuryu, and maiden drilling at the Maruyama target. The company has added Chilean drillers to its Japanese team, aiming for year-round drilling capabilities. Additionally, preparations are underway for a maiden drill program at the Yamagano project later this year.
Irving Resources Inc. (CSE:IRV)(OTCQX:IRVRF) reported significant findings from diamond drill hole 21HKR-001 at the Hokuryu site in Hokkaido, Japan. Notable results include intercepts of 3.12 gpt Au and 469.00 gpt Ag over 0.41m and several additional high-grade Au-Ag intersections. The drilling indicates substantial vein extensions below historically mined areas, suggesting further exploration potential. In 2023, Irving aims to enhance its drilling efforts across three main targets and one new site, Maruyama, following the acquisition of new drilling equipment.
Irving Resources has granted stock options for 1,795,000 common shares at an exercise price of $1.00 each to its directors, officers, employees, and consultants. These options have a three-year term, with one-third vesting every six months, achieving full vesting in 18 months. The company, focused on gold exploration in Japan, holds a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation, enhancing its resource discovery potential.
Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) held its Annual General Meeting on August 24, 2022, in Vancouver. All incumbent directors, including Akiko Levinson and Quinton Hennigh, were re-elected for another term. Additionally, Davidson & Company was re-appointed as the auditors for the upcoming year. Irving focuses on gold exploration in Japan and maintains a Joint Exploration Agreement with the Japan Oil, Gas and Metals National Corporation (JOGMEC).
Irving Resources has secured gross proceeds of US$2.6 million (C$3.32 million) through a private placement with Sumitomo Corporation. The company issued 2,705,056 common shares at a price of C$1.23 each, subject to a hold period expiring on December 5, 2022. The raised funds will be allocated with 70% for exploration activities on Irving’s Omu project and 30% for an established exploration alliance with Sumitomo. Irving focuses on gold exploration in Japan and has a joint agreement with the Japan Oil, Gas and Metals National Corporation.
Irving Resources Inc. (CSE:IRV; OTCQX:IRVRF) announced the closing of a private placement with Newmont Corporation and a concurrent Unit Placement. Newmont invested US$4.4 million for 4,577,788 shares at C$1.23 each. Additionally, C$2,974,540 was raised from the issuance of 2,974,540 units, priced at C$1.00, each comprising a common share and half a warrant. Crescat Portfolio Management LLC also participated as a lead investor with a C$1 million investment, strengthening Irving's exploration efforts.
Irving Resources Inc. reported significant findings from diamond drilling at the Omui mine site in Hokkaido, Japan. The two holes drilled in winter 2022 showed high-grade veins with intercepts including 7.39 gpt Au and 10.07 gpt Ag over 8.58m. The company anticipates possible connections between mineralized systems and is excited about further exploration with a new drill rig recently acquired. Despite setbacks due to equipment issues and COVID-19, drilling will continue at the Hokuryu mine site, confirming the potential for expansion of vein systems.
Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) announces a strategic investment from Crescat Capital LLC of $1 million in a private placement. This investment involves 1 million Units, each comprising one Common Share and a half Common Share purchase warrant, exercisable at $1.60 for three years. Crescat will have future financing participation rights as long as it maintains over 1% of the outstanding shares. Irving focuses on gold exploration in Japan and collaborates with the Japan Oil, Gas and Metals National Corporation for resource discovery.
Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) announced an amendment to its investment agreement with Newmont Corporation. Newmont will require Irving to undertake a private placement worth up to US$4.4 million this year, with an additional potential US$6 million placement. The funds will support exploration on the Omu project in Japan. Concurrently, Irving plans to raise up to C$3 million through a non-brokered private placement, targeting mineral resource projects and general working capital.
Irving Resources has acquired two diamond drills to enhance its exploration initiatives in Japan. The first, a Zinex A5 drill, is set to arrive mid-July, while an LF90DT drill is expected in Q3 2022. This in-house drilling strategy, adopted due to pandemic-related travel issues, allows for simultaneous drilling at multiple targets, expediting exploration efforts. Key projects include Omu and Yamagano. Following a recent COVID outbreak, drilling operations have resumed, aiming for high-grade target follow-ups. The company emphasizes this initiative as pivotal for advancing its gold-silver portfolio.